The common stock is listed on the NYSE

Davis Polk advised the representatives of the several underwriters in connection with the $920 million SEC-registered offering of 55,757,576 common shares as well as the $575 million SEC-registered offering of 11,500,000 depositary shares by QXO, Inc., including the full exercise by the underwriters of their options to purchase 7,272,727 additional common shares and 1,500,000 additional depositary shares. Each depositary share represents a 1/20th interest in a share of QXO Inc.’s 5.50% Series B mandatory convertible preferred stock. The proceeds from the offerings will be used to repay indebtedness under the QXO’s senior secured term loan facility, and to pay fees and expenses related to the transactions.

QXO is the largest publicly traded distributor of roofing, waterproofing and complementary building products in the United States. QXO plans to become the tech-enabled leader in the $800 billion building products distribution industry and generate outsized value for shareholders. QXO is targeting $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth. The company’s common stock is listed on the NYSE under the symbol “QXO.”

The Davis Polk capital markets team included partners Michael Kaplan and Mark DiFiore and associates David (Wei Fu) Li, Richard Stockton Bullitt and Ryan Mainous. Partner Lucy W. Farr and associates Kelsey Nelson and Fred Fu provided tax advice. All members of the Davis Polk team are based in the New York office.

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